A legal battle brought against diversity-focussed beauty retailer Thirteen Lune and its founder Nyakio Grieco is set to conclude.

Grieco confirmed on Nov. 6 to The Business of Beauty that venture capital firms Beauty Generations Fund and Relevance Capital will be dropping all claims against her and the company. The lawsuit had alleged fraud, breach of fiduciary duty and misappropriation of company funds; it was filed in Los Angeles in March 2025.

“I look forward to working with Relevance Ventures, along with our other investors and angel investors, to continue our mission,” Grieco said.

While she declined to comment on specifics of the case, a legal representative for Grieco stated that an “amicable resolution” was reached. The that court documents formally withdrawing all claims about the founder and Thirteen Lune will be filed by Nov. 10.

Relevance Capital confirmed to Women’s Wear Daily the withdrawal of the claims. It did not respond to requests for comment.

Thirteen Lune, which went through a bankruptcy alternative process called assignment for the benefit of creditors (ABC) via acquisition by SNR Capital in 2024, struggled to pay brands amid financial difficulties. Its partnership with JCPenney ended in May 2025. Greico is the current owner of the company, along with other investors she declined to name.

All brands that remained with Thirteen Lune after its ABC process have been “made whole” she said, noting that the company currently has 160 brands on its roster.

No change has been announced for the claims against other defendants named including SNR Capital and its principals, Conor Riley and Piyush Golia. Lawyers for Riley, Golia and SNR Capital formally withdrew their legal counsel on Nov. 4, according to court documents.

The company has been making new hires, adding new brands such as singer Jhené Aiko’s wellness brand Jhenetics, and plans on both domestic and international expansion going forward, said Grieco.

“It was really tough on the business to go through a lawsuit that became so public, but the wonderful thing is that we continue to work with all of the new brands that we have onboarded. We’re seeing growth and traction and looking forward to a really big 2026,” she said.

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Investors Sue Thirteen Lune Founder for Alleged Fraud and Embezzlement

Two of the beauty retailer’s investors have accused the entrepreneur of misappropriating nearly $200,000 and using a recent acquisition to wipe out shareholder equity in a California lawsuit.